Hyundai to launch 26 cars in India by 2030
What's the story
Hyundai is gearing up for a major expansion in India, with 26 products for the market by 2030. The South Korean automaker announced the strategy at its CEO Investor Day in Seoul today. The move is part of Hyundai's larger plan to introduce or refresh over 100 vehicles globally by the end of this decade.
Market distribution
Global vehicle launch strategy divided by market
Hyundai's global vehicle launch strategy is divided into different markets.
Out of the planned more than 100 global launches and refreshes through 2030, 58 are earmarked for North America, 49 for South Korea, 41 for Europe, 26 for India, and 22 for China.
The company also plans to increase its India factories' production capacity by an additional 320,000 vehicles per year by the end of this decade.
Product diversification
India's 1st locally manufactured dedicated electric SUV on the way
Hyundai's India-specific product pipeline includes seven new nameplates and entry into segments like MPVs and off-road SUVs. An all-new electric SUV designed specifically for the Indian market is expected to debut in the fourth quarter, with a next-generation infotainment system and Level 2 assisted-driving tech.
Market trends
Hyundai expects SUVs to account for 80% of Indian sales
Hyundai is betting big on SUVs, which dominate India's passenger vehicle market. The company expects SUVs to account for 80% of its Indian sales by 2030.
However, the global product offensive isn't just about adding more vehicles; it's a shift in Hyundai's approach to electrification.
Instead of solely focusing on battery-electric vehicles, the automaker plans to offer a wider mix of powertrains including hybrids and extended-range electric vehicles (EREVs).